Fortec Acquires Special Purpose Property In Orlando For $2.45M
728 Gear Lake Avenue, Orlando, Florida 32803, United States
$2,445,000
$267/SF
Building Size
9,153 SF
Asset Type
—
Closing
Jun 15, 2022
About this deal
AI
Located at 728 Gear Lake Ave in Orlando, this special purpose property was recently sold in a closed transaction. The property spans across 9,153 square feet, and the sale price was recorded at $2,445,000, resulting in a price per square foot of $267. The transaction took place on June 16, 2022.
Summary of transation details
- Property Type: Special Purpose
- Transaction Amount: $2,445,000
- Square Footage: 9,153
- Address: 728 Gear Lake Ave, Orlando
- Market: Orlando
The buyer of the property was FORTEC, while the seller was Robert Cascio. Colliers represented the parties involved in the transaction as the broker.
Players
Orlando CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.49%
Cash-on-Cash
-1.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93